IKaaz launches mobile NFC payments service in Nigeria

IKaaz, a Bangalore based mobile payments provider has entered the rapidly growing African market with the launch of its innovative tap and pay offering in Nigeria.

Very soon Nigerian consumers will be making NFC payments at select merchant outlets thanks to iKaaz's NFC powered mobile payments platform running on the cloud.

"It is encouraging to see that African partners are very interested in embracing NFC-based innovative mobile payments solutions. We are also extremely proud to have the opportunity to partner with FCMB Bank here in Nigeria," said Soma Sundaram, Founder & CEO of iKaaz.

iKaaz provides a comprehensive suite of end-to-end mobile payments solutions that include a feature rich mobile wallet, an innovative - yet cost effective mPOS (mobile Point of Sale) and a robust payments platform that allows banks, operators and financial institutions to extend mobile payments to their customers in a fast, secure and cost effective manner.

Consumers use NFC tags that are linked to the mobile wallet similar to a debit card that is linked to bank accounts; while merchants on the other hand, will use iKaaz NFC mPOS to complete transactions all of which are processed by iKaaz's robust payments platform.

In addition to NFC support, iKaaz platform supports SMS-based payment transactions along with a mobile app. The iKaaz platform is already processing millions of transactions.